SpaceX reported $14.6 billion in revenue for the third quarter of 2026, up 161% from a year earlier, as rapid growth in its artificial intelligence business helped the company exceed Wall Street expectations.
The company reported net income of $4.4 billion, compared with a $1.1 billion loss a year earlier, while adjusted EBITDA climbed 306% to $8.8 billion.
Revenue surpassed analysts’ expectations of approximately $12.72 billion, according to Reuters.
SpaceX’s Super Intelligence division generated $7.56 billion in quarterly revenue, an increase of 830% from $813 million a year earlier, making it the company’s largest business by revenue.
The earnings came as SpaceX continued expanding its AI infrastructure and Starlink satellite network following its public listing on Nasdaq earlier this year.
SpaceX AI business drives revenue growth
SpaceX attributed the expansion of its Super Intelligence division to new cloud services agreements, growing adoption of its Grok models and the acquisition of AI coding platform Cursor.
The company completed its acquisition of Cursor on August 14 at an implied equity valuation of $60 billion. The business contributed $608 million in revenue between the closing date and September 30.
SpaceX also increased its nameplate computing capacity to 1.7 gigawatts, up from 0.6 gigawatts a year earlier, as it continued developing its Colossus II data center infrastructure.
The division recorded $431 million in operating income, compared with a $1.72 billion operating loss in the same quarter last year.
However, the expansion required significant investment. SpaceX spent $16.4 billion on capital expenditures in its Super Intelligence division during the quarter, accounting for most of its total $19.6 billion in capital spending.
Meanwhile, its Connectivity business, which includes Starlink, generated $5.25 billion in revenue, up 69% from a year earlier.
Starlink reached 13.6 million consumer subscribers by the end of September, compared with 7.2 million a year earlier. SpaceX also reported $2.37 billion in operating income from the segment, an increase of 99%.
SpaceX tokenized shares trade close to Nasdaq stock
SpaceX shares surged 2% in after hours trading, reaching nearly $151 at press time following the earnings release. Tokenized versions of the company’s stock were also trading close to the underlying share price across several crypto platforms.
SpaceX trades on Nasdaq under SPCX, while tokenized versions are available through Kraken’s xStocks (SPCXx), Binance (SPCXB) and Ondo Finance (SPCXon).
Disclosure: This article was edited by Diego Almada Lopez. For more information on how we create and review content, see our Editorial Policy.